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PDO set to achieve record output this year
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Friday, 07 Dec 2012

Petroleum Development Oman will this year post its highest ever annual production of oil and gas, at 1.25 million barrels of oil equivalent.

Mr Raoul Restucci MD of PDO said that the Qarn Alam and Amal steam projects and some other projects have contributed significantly to the increase in production this year. We are expecting to reach 1.25 million BOE per day for 2012 which is the highest in PDO 's history. It is a tangible increase in production. The proportion of oil and gas production is approximately 50:50. We expect to finish the year at around 565,000 barrels of oil per day with the rest being condensate and gas production.

Mr Restucci said that PDO recorded 1.2 million BOE per day production in 2011 against the targeted 1.1 million BOE per day. BOE is a measure for hydrocarbon production which is used by firms as a way of combining the production of oil, natural gas liquid petroleum gases and condensates into a single measure.

He said that our goal is to maintain a long term plateau in oil production. The target for this year was 550,000 barrels per day and we are above the target. Our focus remains on extending those targets for the longer term, optimizing the exploitation of resources to meet government requirements.

Source - Muscat Daily


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